Starting a business is exciting, but the legal steps can feel confusing. Forming an LLC the right way protects you and sets your business on a solid foundation.
1. What Is an LLC?
An LLC (Limited Liability Company) is a business structure that separates your personal assets from your business liabilities.
This means your home, car, and personal savings are better protected if something goes wrong in the business.
2. Key Benefits of an LLC
- Personal liability protection
- Flexibility in how you are taxed
- A more professional image with clients and banks
- Easier to open a business bank account
3. Basic Steps to Form an LLC
Typical steps include:
- Choosing a unique business name
- Filing Articles of Organization with your state
- Getting an EIN from the IRS
- Creating an Operating Agreement
- Opening a business bank account
- Understanding state fees and ongoing compliance
4. Common Mistakes New Owners Make
- Mixing personal and business money
- Forgetting annual reports or state requirements
- Not keeping records of important decisions
- Using personal accounts for business expenses
These mistakes can weaken the protections an LLC is supposed to give you.
5. How MB Financial Consulting Helps
We guide you through:
- Choosing the right structure
- Filing all required paperwork
- Getting your EIN
- Setting up banking and basic financial systems
- Understanding your next steps after formation
Ready to bring your business idea to life?
Let MB Financial Consulting help you form your LLC with clarity and confidence.